Below is the marginal willingness to pay of a consumer for organic apples. 11eb58a2_cdf2_cde6_9be9_a57193aec9de_SM2425_00 a. What is this individual's total willingness to pay at a consumption level of 4 apples? b. If the price of organic apples is $2.40, how many apples would this person consume?

Environmental Economics 6th Edition by Martha k Field,Barry Field

Edition 6ISBN: 978-0073511481

Environmental Economics 6th Edition by Martha k Field,Barry Field

Edition 6ISBN: 978-0073511481

Exercise 7

Below is the marginal willingness to pay of a consumer for organic apples.

a. What is this individual's total willingness to pay at a consumption level of 4 apples?
b. If the price of organic apples is $2.40, how many apples would this person consume?

Explanation

Verified

Given information:
Table-1: Marginal an...